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20130106
20130114
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CNBC 26
FBC 12
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FOX
Jan 8, 2013 7:00am PST
bay. it's kind of moving around. steve will be here with a complete report. driving purposes. don't use the high beams. we're also checking 880. northbound, 880 near high street. they are clearing it now but the traffic is just a mess. 880 northbound. the alternate route for you would be 580 if you can get over there. 580 is crowded. traffic is backing up in san leandro on 880. bay bridge toll plaza, it's backed up. it's not all that bad. some people may be stuck on 880. but it's backed up for about a 15-minute delay. in san jose, we've been watching the road sensors. northbound 280, 101 and 85, you will see some slow traffic there. let's go to steve. >>> thank you, sal. >>> we're on on the mild side coast and bay. yet the fog reports continue to come in. evelyn in campbell, really, really foggy. jenny in benicia, the nothing horns are sounding. so i mean, it continues to move back in. it makes sense about 7:00 to 9:00. and then it will start to lift a little bit. 30s to 40s. it will be beautiful around the coast and bay. morning fog, sunny, warmer. i haven't wrote that or said th
FOX
Jan 9, 2013 7:00am PST
to steve. >>> all right. we do have -- some patchy fog. yesterday, was much more widespread, especially san jose. things seem to be a lot better today towards the south bay but there's still some in the north bay and east bay. the cold is the bigger story. it's not working its way in but it will tonight. no doubt about it, thursday into friday. lows will be dipping in the 20s. 30s, maybe even around the coast. windy, possible showers, but this is not a big system for big rain. it's a big system for cold air because of that already, thursday night and friday, a freeze warning is out for the north bay and frost advisories. i know we're still a day away. this will be very cold air. it might last until sunday. increasing clouds throughout the day. maybe a little filtered sun. 30s and 40s. some of that patchy fog. temperatures are stuck. haven't seen them move that much. here is the cold air. we'll see it will swing in. still about a day away. but a little bit cooler today with increasing clouds coming in. not a big deal. mostly cloudy, patchy fog, combination of the two makes for a gray day. av
FOX Business
Jan 11, 2013 3:00pm EST
specialist tdd#: 1-800-345-2550 will help you get started today. liz: as first reported by fox business steve cohen's capital bracing for massive redemptions amid a wide ranging investigation into possible insider trading violations at the big huge fund although the fund is up this year. how long does up this year last? >> i mean, he's doing very well amid, like, a lot of pressure. we have to point out that, this is what i love about being on fox business, you know, sometimes like david versus goliath; right? we write the story monday, i did, you were traveling to one of your affairs. liz: the story that -- >> that fc capital was meeting with hedge fund managers, bracing for massive redemptions -- liz: pulling my money out? >> if you read the "wall street journal," they copied our lead five days later, it came out today. what the journal missed, and in addition to becoming very late on the story, they missed why it's happening. it's not necessarily that people want to hate steve because they don't. i can tell you that financial advice, guys who control money, the fun, the funds that invest in
CNBC
Jan 10, 2013 1:00pm EST
. be sure to pick up a copy of skeef w steve weiss's new novel. >> go gm long. >> i knew that. >> titan. buy it. >> more at 5:00 tonight. follow me on twitter. and "power lunch" begins right now. >> "halftime" is over. >> "power lunch" and the second half of the trading day starts right now. >> an unhedged hour of "power lunch." an hour filled with breaking news. in 30 minutes time we expect president obama to name jacob lew to replace timothy geithner. it the white house really getting serious on gun control? under way right now, vice president biden, at the chair's seat. we should have answered very soon. and new rules on mortgages. being announced today. we will highlight changes and explain how they could affect you. >>> first though, sue at the new york stock exchange. sue? >> ty, as you mentioned, president obama will announce jack lew as his nominee for secretary of treasurer. he staffers believe it will be approved. analyst say the president's pick is a sign he will move forward with planned economic reforms and do so aggressively. mr. lew served as coo of nyu and worked at citigroup
FOX
Jan 7, 2013 7:00am PST
a difference a week makes. this morning, it's about a 15, 20-minute delay. let's go to steve. >>> thank you, sal a lot of fog around there. higher clouds coming in. a beautiful sunrise. but the higher clouds are all we'll see out of this system mainly staying to the north. there's thick fog being reported in the bay. morning fog, higher clouds. a little warmer tomorrow. it's a dry forecast and then on wednesday into thursday turning colder, much colder thursday,/friday as we get a stronger system coming in. we'll have a lot of cold air coming in thursday/friday. the recent rain has moved off into southern california. and then out of the area. but the overnight temperatures and the dew point coming together and that gives us thick fog. that will be with us today and tonight. these higher clouds, coming down around the southern edge of the system which has been spilling over. so we get the higher clouds. patchy, thick fog in the morning. 30s and 40s. higher clouds in the afternoon. 54 to 62. most locations, 30ss, 40s. novato is sweeping in. i did see a 39 there. fairview is 34, 34 livermore.
CNBC
Jan 8, 2013 3:00pm EST
'll get much more on the markets coming up, but first steve liesman with breaking news right now. this is the latest read on the u.s. economy. steve, what can you tell us? >> maria, thanks very much. the federal reserve reporting consumer credit for november, consumers in a borrowing mood with consumer credit rising 7%. non-revolving credit, auto, student loans, up by 9.6% with a big rise in student loans. the federal part of this thing was up pretty strongly, and non-revolving credit was up 1.1%. student loans up by $5 billion to a record $521 billion, and outstanding bank credit card was up by 6 billion as well so banks were not shy about alleged on the credit cards. meanwhile, jeff lacquer, fed president saying growth at 2 it is is what is expected for 2013 but 2014 could be stronger with reduced risk and ending some of the financial uncertainties that have -- that he says hobbled growth in 2012. he repeated his opposition to current fed policy and warned that a big fed balance sheet means that the economy is vulnerable to even small mistakes. maria? >> all right. steve, thank
CNBC
Jan 11, 2013 3:00pm EST
are a low-cost iphone for emerging markets. shanghai evening news claimed the apple marketing chief steve shiller says the future for apple isn't cheap phones. apple hasn't responded to my request to clarify what shiller said and frankly i don't trust language that's been translated and retranslated. the future of apple isn't cheap ipads but that doesn't stop them from coming out with ipad minis. you can bet they have worked on a phone that would meet their standards and avoid cannibalizing the high-end iphones. if they release one, that's a bigger story. >> apple stock, a buy or a sell? the stock hovering around $500 a share. still well below its all-time high, so is it a buy or not? on the technical side of the story ennis tanner with me with riskreversal.com and on the tech fundamental side, jeff, we'll start with you. >> growth rates in china, it's huge, but i think there's a bigger story here in apple, and we can talk the numbers to death, but there's a transition going on. over the last six years apple has been this hyper growth company with an investor base that included everybody,
CNBC
Jan 7, 2013 5:00pm EST
. is the trend your friend? should you be dumping the stock? we've got a street fight here. steve is the bull, tim is the bear. you've each got -- we've amended this. you now each have 30 seconds to make your case. >> powder over that black eye from last week. >> i'm staring at your hair. it looks great. >> can't touch it, buddy. >> start the clock now with the bull case. >> it's all about fulfillment centers. have to look at, what's the cost basis? in 2011, 8.5% of revenues. in 2012, 10.6%. if you believe the fulfillment senter expenses are going to start to recede, you want to be a buyer. i would be a buyer here but i would keep it on a short leash, use a 260 stop. >> why are you bearish? >> it's always about valuation. this is a great company. but when you look at the last five quarters, they are falling in terms of their revenues in terms of their eps and in terms of their ability to manage their margins. the cost on the fulfillment side are something that are catching up to them. if you look at the note, obviously, a guy like me, an emerging markets guy should love this, but at the end o
CNBC
Jan 8, 2013 4:00pm EST
joins us and steve liesman, our senior economics reporter. you worried, what are you thinking here? >> you know the problem is we're already starting to see the consequences and specifically we saw that in the quarters leading up to the fiscal cliff discussion, and really this is just another reminder, another round reminding the american people and the world just how much of an imbalance this u.s. u.s. economy has become with out-of-control government spending and removing any incentive for businesses to invest in the u.s. economy. these are different conversations. when we talk about the government shutdown as a result of breaching the cliff, this is on obligations already made, dollars already spent. the conversation that we need to have or include here is reining in future spending which is what the republicans are trying to do at this point. >> what do you think, steve? have we already seen damage to the economy with all this uncertainty and questions surrounding the debt ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the econ
CNBC
Jan 9, 2013 12:00pm EST
. >> steve, where are we going from here? >> first of all, in terms of alcoa, doesn't mean anything. >> the tone matters! the tone doesn't matter? if they lay an egg, doesn't matter? >> like my grandmother said, have a little soup. can't hurt. that's the only thing that matters. take a look at the stocks not working today, some of the steel stocks, some coal stocks, you would think they would be up on alcoa. >> if they said, look, china is worse than we thought. >> right. >> not actually getting better like all of you think it is. >> go back to what they said in the past. they have gotten it wrong basically more times than right. it doesn't hurt but it doesn't really help all that much. if you take a look, the stocks are trading sympathy with it. why wouldn't mt be up and u.s. steel be up. >> steve -- >> dow up 78 points and up across the board. >> that's why it's up. >> higher but alcoa's ceo, the comments, i think shed some light. i think -- >> he was more downbeat than been in terms of tone. >> yes. to scott's point, look at what he said about china. things are picking up there.
CNBC
Jan 9, 2013 3:00pm EST
as the main player? >> steve liesman and rick santelli tell us what they think it all means. steve, you first. you recently did, as you know that great interview with tim geithner right here on the "closing bell." how well do you know lew? >> not as well. he was at omb for a brief time, a couple years in this administration, his second go-round there. look, we're learning more about him, and i don't think there's very much mystery here. he would be picked for the job because he's a budget expert, and that also he's a loyalist inside the obama administration and in a place that values loyalty like a lot of white houses, and the question becomes does he have other critical qualifications that say wall street or the international banking and financial system would require, with the big question being, you know, if we were at a place where there was another financial crisis, how well would jack lew, as did robert ruben, hank paulsen and tim geithner do to instill confidence? >> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you
CNBC
Jan 9, 2013 4:00pm EST
fed treasury and others presented their points. robert steve miller said the board fulfilled its fiduciary duty and the board reject it had entirely meaning it won't pursue the claims on its own or allowing greenberg international to pursue the claims in aidentifying's name. the ceo from 1967 until 2005, greenberg's long criticized the government's handling of aig during the financial crisis. his term filed the suit on behalf of other aig shareholders, the suit claiming, among other things, the firm's investors weren't properly compensated for the 80% stake the company took as collateral for the rescue packaged back in 2008. calls for clarification on the decision were not delivered. back to you. >> joining me right now in an exclusive interview, ceo benmosche. thanks for joining us. >> thank you, maria. >> very important time for the company and shareholders are out there watching this. first off i've got to say reading the court of public opinion, lots of headlines. now we've got a lawsuit against the government. the government bailed out this company. why did you even look at
FOX Business
Jan 6, 2013 4:00am EST
and former consultanto the treasury department and steve son, president of capital public affairs and a former labo department official. all-starith you. where can get -- what you make of this report? >> 455,000, which was the jobs increases, the average for the past couple of yers. what is really striking about this is this is the best we will e for a while. gerri: what? >> yeah. normally at the start of the year we're looking at big stimulus. last year payroll tax cut, help fr the fed. on average since 2008 the stimulus of the srt of the year has been three and 55 billion. this year its-270000000000. so we go from of big tailwind to a big head wind. this isthe best numbers we can do at this point, wait until those tax cuts, people and get their payroll, thir paychecks. gerri: let's let steve and then. do you agree. >> i think it's pathetic. the economy really is treading water. we have the most lackluster recovery since the great depression. clearly the president's policies are not dng what they're supposed to be doing. a lot of clients, small business people a petrified th no i
CNBC
Jan 10, 2013 6:00am EST
. >> there we go. >> i don't think -- >> pimco -- >> you know i'm thinking of steve jobs and -- >> i know. >> it's -- >> i'm going to do it with my ipad, too. anyway when we come back. an interesting -- interest rate decision from the bank of england is just a few minutes away. plus president obama set to nominate jack lou as treasury today. roger altman will join us on set as our guest host for the next hour. "squawk" will be right back. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> talking treasury. who is america's new top money man? the nomination of jack lew and what this means for the markets. reaction from former deputy treasury secretary roger altman. >>> stocks in focus. the most important themes for investors. get the names before trading begins, with jason trennert. >> and the herbalife war of words. >> herbalife is a pyramid scheme. >> now another activ
CNBC
Jan 7, 2013 12:00pm EST
-year highs headline r really is a risk, what role will the nation's central bank play? steve liesman is here with that story. steve, it's good to have you back. you know wab if the minute unveiled anything last week besides the fact that they spooked the market momentarily, they showed that there's seems to be a battle inside the fed. how real is it? >> what's interesting, scott, is there's not one, but really two battles. the first battle is that there's differing opinions at the federal reserve over the improvement in unemployment rates. some guys had one metric and women are included here, too, as well. for when the -- we'll hit that 7% -- >> with all due respect to janet yellen. >> absolutely. what you're looking at here is the count where everybody is in their forecast 2013. you can see a pretty solid majority, 16 of the 19 are at 7.4% or higher. to be sure, the fed had this wrong in the last year. they're almost a full percentage point long at the end of 2011 when it came to 20 is 12. the other fight is the one that's more interesting. the minutes know several members of the federal re
CNBC
Jan 7, 2013 3:00pm EST
us along with brian is peter anderson of congress asset management and our own steve leisman and rick santelli. you think it's going to be another good year of gains. target on the s&p 1575. defend it. >> well, we do. i'll remind everyone we were at 1420 last year. we base all of our analysis on fundamentals. >> you were off by a point. >> i'm sorry. >> a whole point. >> seriously. >> i'm sorry. but we think the fundamental condition of u.s. stocks remains very strong. if you take a look at the balance sheet strength, earning stability. fourth quarter earnings i think was a surprise to the upside. companies have been conservative of all these great things. no that we're done with this fiscal cliff situation, i think we do have a bit of wind behind our sails. however, we don't think that 2013 will be as strong as 2012 given the fact that so many people were underexposed stocks in 2012. we've had this kind of natural rotation back in. i think 2013 will be positive. >> but are we really done is the question. we've got the debt ceiling debt bait coming. peter, what's your take? >> well, i
FOX Business
Jan 7, 2013 1:00pm EST
has new details on steve cohen. melissa: you are always controversial. charlie: here is what is interesting about steve cohen. in february, as they see faces a window of redemptions. here is what we know. fac officials are screaming to prevent massive reductions. they are currently contacting and holding one-on-one meetings with investors. they are essentially saying that despite everything, the investigation -- a wells notice has been given. despite all of that, they think that steve cohen we'll be okay. they may get a large fine. they think they are facing charges. they will not be indicted. it will not be a criminal case. keep your money with us. the bottom line is this, you do not know until february. investors essentially hate this type of controversy. some very large investors have put holds on the stocks. i can also tell you, steve cohen and these guys are very aggressive. they are out there trying to get large investors to stay with it. they will come out after the story. these are different one-on-one meetings. this is crisis mode. they think there is a very good lik
CNBC
Jan 7, 2013 1:00pm EST
plan. steve liesman is here on what you are hearing. how concerned are they? >> there is concern and it takes two forms, sue. two separate fault lines that developed over the fed. you are -- well, that the easy one. the economy meeting what we call the substantial improvement in labor market quicker than others do. they are worried about substantial group in the balance sheet and adjusting it once they stave off inflation. here is what they said about three different folks with the fed. another group a few others say we need considerable policy. that is qe. but they frnt telling us how long it gez on for. this other group called several others that say it is appropriate to slow or stop purchases well before the end of 2013. they site concerns about financial stability or the size of the balance sheet. here is what i understood to be some of those concerns. big balance sheet obviously could lead to inflation. they could be at a loss or make payments to the bank. as interest rates go up, principal gez down. payment to banks would come from interest on reserve in order to sequester
CNBC
Jan 8, 2013 9:00am EST
. periodically they've developed what steve jobs used to say is, not what you want in the sense that, well, i'm looking for a better -- but something you never thought about that you suddenly just can't believe you can't live without. i think they've got to come up with something. they've got to come up with something that you can't live without that you don't know about. >> and they'll be able to do that without steve jobs? not just embracing something, but pushing the people behind it to actually make it a reality? >> tim cook, according to the interview, with steve jobs, not a product guy. but there are product guys there. this was not a one-man company. >> no, it wasn't. >> henry ford was not the only person at ford. but ford did change rather dramatically. is that the right analog? i struggle on apple every day, because the data points are not so great. >> they're not. as a consumer, who uses apple products, we want to love the stock, but that's not necessarily the case. >> i love the ecosystem so much. i was downloading this apple ecosystem from itunes. but it's not a rain forest, and w
CNBC
Jan 11, 2013 9:00am EST
could that impact the man who is now nominated to succeed tim geithner? steve, good morning. >> thanks, carl. first of all, just to what you were talking about earlier, we understand geithner's going to hang out until january 25th in the treasury, giving jack lew to confirm and i guess perfect his signature. let's see what we've learned, what does he leave for jack lew. he got the stress test done. actually, that's not correct there. let's move away from that. what we're talking about here is the -- let me go to my notes. the stimulus was done -- but sustained growth was not. frank dod basel iii was not done. aig also done. what is the geithner model? what is the geithner doctrine? i think you can say like this, overwhelming government force when it's clear it's needed. b in a crisis, spend, regulate and guarantee and do it with conviction. let's talk about one of the things left over from the geithner years, which is going to be the issue of debt and deficit. i think you would say there was some accomplishment when it came to getting some of these deals in place. but ultimately, he pr
CNBC
Jan 8, 2013 6:00am EST
of virgin atlantic. he's going to assume that job as of february 1st. current ceo steve ridgeway is retiring after 11 years on the job. >> let's welcome our two guest hosts who will be with us for the next two hours. first up we have senator ron johnson who is a member of the commerce and budget committees. also john allison, former bb&t ceo, also president of cato. welcome to the both of you. we have a lot to discuss with you. first we want to get to some of the things we're going to be talking about over the next two hours. guys, we have you here because we have some serious issues. things that are facing our nation and i know you both have some very serious thoughts about them. >> true. >> senator, you brought some cups that i think lay out some of your concerns. >> listen, what i like to talk about, obviously, is how do you start decreasing the level of uncertainty, bring certainly back to this economy, you know, restore confidence so we can get our economy growing again which is the primary, that's the best way to solving our fiscal situation. i think the other problem we've got to solv
CNBC
Jan 10, 2013 9:00am EST
geithner. steve liesman joins us now. he has a look at exactly what lew will be left with once mr. geithner leaves town. >> no easier job now. treasury sect job was a tough job to begin with and today's circumstances, this post financial crisis world, a tougher job yet. let's go through some of the things that we know and some things we don't know. the debt ceiling and more among the jobs here, negotiate a debt ceiling and sequester deal with congress, or if you don't do that figure out thousand run the government without debt. an interesting job. also on that agenda, fixing long term entitlements. as well as the broader thing which geithner has been working on, but hasn't really pulled the trigger on, corporate and individual tax reform. let's broaden it out because there's a local other area especially in the wake of the financial crisis. the global finance job. who is the treasury secretary? he's the guy you need to stand up during the next meltdown. second thing, dodd-frank remains out there, unfinished regulations. basil 3. fannie mae and freddie mac as well as more on too big to fail.
FOX Business
Jan 7, 2013 6:00pm EST
. gerri: you make a good point. i wanted to respond one more thing, which i found interesting. steve moore of "the wall street journal" said we had heard that i'm not going to negotiate with the president anymore and now we find out that the president told speaker boehner that the country doesn't have a spending problem. does this tell you anything you that you don't need to know about the democratic agenda? >> is that we think we should be spending more than $3 trillion a year. >> when you're dealing with that, it's hard to know how you're going to negotiate with that. gerri: thank you for coming on tonight, it's always great to see you. >> thank you. gerri: the best laid plans of mice and men. like the tax bonanza that democrats are eagerly awaiting. that may already be behind us. more than 1000 public companies declared special dividends. the president lobbied to put things in place to make sure that the wealthy pay their fair share. but some did better than others. not only did cost no paid early dividends to avoid taxes, but they made it a mega-dividend. $3 billion. equip equivalent
CNBC
Jan 9, 2013 9:00am EST
we have found a way it be able to run automobiles with water, that was the hope of steve jobs. they run on water and we've got that in q2. i'm taking numbers down. that's where we are right now, the mind-set of apple is so horrible, that i feel like taking a big bag of macintoshs and smashing them. >> if this story had come out a year ago, it would have been seen as leading a way in the emerging market play. this is exactly what they needed to do. >> 40 billion more apps, china taking over the world, nokia destroyed. now it's like, a new phone, you know, wow. >> the context is a different context this year than a year ago. you look at the third-quarter share loss. 14.6% down from 23% a year ago. you look at samsung's growth, and samsung at 31% of worldwide shipments, from 8.8%. so we're seeing these two sort of cross paths here with samsung on the upswing, samsung yesterday reporting a record year, and apple on the down side. >> how long is tim cook going to subsidize its biggest enemy, samsung, and not go to taiwan semiconductors? do something about this south korean invasion
CNBC
Jan 11, 2013 6:00am EST
. >> that's a really good depression. so it's good, but i don't know what it means. >>> coming up, why steve cohen's sap capital could be bracing from the big hour of squawk. you can't afford to miss this next deal in congress. it's going hit your take home pay line by line. it's more money than you might have thought coming up at 7:00 eastern time. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >>> welcome back to "squawk box" this morning. u.s. equities at this hour, we have red arrows. dow off about 11 points this morning. the nasdaq off 1.5 points. s&p 500 marginally off about a point this morning. sap capital telling business employees and parter ners it's bracing for employee withdraw. the journal says this is amid intense regulatory scrutiny of alleged insider trading at sac. worth noting,
CNBC
Jan 7, 2013 9:00am EST
. therefore, the outlook for qe is steve liesman. who we should note, of course, was hobnobbing with a lot of economists last week. >> simon, thanks. what i've been able to figure out is there are actually two separate fault lines that have developed over at the fed over how much quantitative easing to do this year. the first one is the easy one. some officials seeing the economy meeting the labor market before others. and look at this chart of the fed unemployment rate forecast for 2013. it shows those divisions really not that extreme. pretty solid majority. 16 of 19 members. they see the unemployment remain above 7.4% this year. that's probably enough to just fight qe for the full year. the more complicated split is among those who are worried about growth in the balance sheet and the fallout from trying to adjust it once the economy picks up. let's take a look at what the minutes said. a few members of the fed are in favor of asset purchases to the end of 2013. a few others, they would like to see considerable policy accommodation, but no specific time frame or total on the amount. it'
CNBC
Jan 8, 2013 12:00pm EST
closely watched sectors when wells fargo reports fourth quarter earnings on friday. steve grasso, director of institutional sales joining us. grasso, it's good to be in your house today. >> nice to have you guys in. >> financials have ripped. last year. and they've started out the year pretty well. what are you looking for? >> wells fargo kicks it off. if you look at it on a price range, it's really cut in between here. 34 is your support, resistance 36 1/2ish. for me i'd rather wait and see approach here. they're looking to get into more private wealth asset management. if that's the case, why not go with a frc or first republic, stay with a goldman sachs. >> let me get your take on alcoa. pete said you might as well flush the earnings report down the toilet, that it means nothing. those were his exact word. >> exact words! >> is he right? >> i agree. not only did alcoa get rid of smelting plants but pete had two that he wasn't using at all. if you look at alcoa, since around may 1st, they've been playing around with the same $2. it looks like an $8, $10 swing. you can make money but it's
CNBC
Jan 10, 2013 12:00pm EST
and they said there's no way in hell can you do that. >> when steve came and laid out the case in for-profit education, that -- >> that was one of the most -- >> there were people on the other side of that. not like this but there were people on the other side of that. >> let's talk about taking sides. as traders you're going to have to make a decision whether you're on the side of ackman or on the side of loeb if you're even willing to dabble in this one. >> i'm not willing to dabble in this. how does the ceo not know what their outside network exposure is. i heard the whole thing. it doesn't make sense to me. if the ceo can't give me answers, i'm not interested. >> he's claims is a -- >> they gave some presentation that they know certain things. they compare themselves to costco. i had a heated dispute with michael johnson about this, it was really good thing. it was respectfully heated i might add. when they bring up costco and they say costcosells to a customer and that small business doesn't know who they sell to and there's a big difference. costco is not regulated through the m
FOX Business
Jan 7, 2013 3:00pm EST
looks at some of it is hard, which they have been looking at steve, looking at microscopic way since 2007. 2012. >> he is a big fish, it did catch for the government. charlie: that is a long time. now this thing with the drug stocks is interesting. he had to explain his trade. he had to explain her mother was a conversation. clearly the government wants to know what was said. >> happy new year, kind of missed you, oddly enough. charlie: in between the glasses of wine. >> the closing bell will ring, we have 28 minutes to go. one company coming up with breakthroughs in the fight against cancer targeting bad cells while leaving the good ones untouched. a process called nanotechnology coming up in a fox business exclusive. we will get an update on our financials read cannot afford to miss that. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b mical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare
FOX Business
Jan 8, 2013 3:00pm EST
with the iphone really happen. for years you worked with steve jobs and company to really encompass that at at&t. what did you learn from that experience you believe will make you more successful with digital life? >> anytime you have a phenomenal partner like apple has been to us you have to learn from that partner. what we have learned is we have to go out and be innovative all the time. we have to look at how we create customer expense that has been flawless and simple for a customer and that was the goal here, how to make of this seems complex, wearing your whole house, allowing you to control these things. our goal was to make it simple. when people see what they can do and see how easy it is to set up and use, they will be blown away by it. liz: you can unlock the door from your desk at home. thank you very much. glenn lurie of at&t. when we come back, first on fox business interview, huge in automotive audio and so much more. plus, tim baxter, first on fox business, wait until you see it, the 84-inch ultra high-definition tv. don't even ask. we will be right back from the consumer elect
FOX Business
Jan 8, 2013 4:00pm EST
the keynote at replacing steve ballmer and bill gates. a mobile company is a keynote at a consumer technology show. what does that symbolize in terms of the direction the consumer technology? >> everybody knows a smart phones have become so popular. mobile computing, computing is going mobile so microsoft built the new windows on top of our chips for example, so it is just now we will see it enabling technology. in particular consumer electronics. tvs, game consoles, all those things we traditionally think in consumer electronics. shibani: you are sort of the brains behind that technology. it is sort of the meaning that the horsepower, the engine is the driver for things rather than the device. what do you think of that? speak we can go to the store and i device but we want them to get a little bit more about -- ashley: we go to the tech conference in las vegas and guess what happens. sandra: giving us the best. ashley: will be going back to ces in las vegas. liz claman will be talking with panasonic on what they have on tap to attract consumers. with new technology in their tv. sandra: they'
FOX Business
Jan 9, 2013 4:00pm EST
. iphone unveiled by steve jobs six years ago today. that is the speed read with time to spare, ash. ashley: wow! that was so smooth. look at you. [buzzer] with style. very good. lori: thank you. ashley: all right a few years ago at ces liz put corning's gorilla glass to the test and went kung fu on it. and it survived anyway. liz gets to look at corning's latest technology and she might even test a few things. we'll be right back. ♪ . look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek imm
CNBC
Jan 7, 2013 6:00am EST
economics reporter steve liesman who joins us a little background. you going to give us a little drama, a little -- >> yeah, there seem to be at least two separate fault lines, andrew, at the fed over how much quantitative easing to do this year. the first one is the easy one. that's over the economic outlook. some officials see the economy meeting that test of substantial improvement in the labor market earlier than others do. that's the easy one. the more complicated split is among those who may or may not see the economy improving, but they're worried about growth in the balance sheet. i want to give you, from the minutes, the divisions at the fed. a few members of the fed say asset purchases are warranted until the end of 2013. a few others, we need considerable policy accommodation but give no specific time frame or total. they're probably the ones who are more oriented towards substantial improvement in the labor market. it's this last group that seems to be the new group. others, several others, they say it's appropriate to slow or to stop purchases well before the end of 2013,
CNBC
Jan 9, 2013 6:00am EST
the jobless rate to 6 1/2%, a report from steve leaiesman whe we return. about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ >>> welcome back to "squawk box" this morning. in the headlines, amr shareholders might be getting earnings. it might be unusual but its stock has improved since filing for bankruptcy in 2011. the possibility of that was mentioned to the justice department. >>> a number of redesign ed mercedes models should drive sales. the u.s. has become more important now that demands from china has receded. >>> finally, apple's tim cook on his second visit to china in a year and ramped up speculation apple is renewing efforts to strike a partnership with apple mobile, the country's largest carrier and apple declined to comment whether they would be meeting
CNBC
Jan 7, 2013 4:00pm EST
as former boss steve jobs. we don't now how the holiday turned out for jcpenney. one person we spoke to is very happy with how his merchandise performed at jcpenney. >> we had a stellar performance in izod at jcpenney during the holiday season. great sell throughs. we beat our plans particularly for the month of december. so we really feel very good about how that has all come together, how izod has performed at jcpenney. we love the way they look, the way the brand is presented. and the margins have been outstanding. >> no shares of online only amazon hitting record highs. in tandem today with the heavy conference connecting with the consumer on multiple screens and platforms. a number expected to release their holiday sales numbers this week. many of which invested heavily in their online department. retail investment bank president collin welch told me today he thinks many of these retailers are better off acquiring technology companies and companies that already have this expertise than building them from the ground up. >> thanks very much. >>> earning season kicks off tomorrow.
CNBC
Jan 7, 2013 4:00am EST
for the first half of the program today, steve carroll. good morning to you. we can see investors like this. what are the ramifications as far as you're concerned? >> well, first of all, thank you for having me on the show. i think we should be -- as we've seen, the markets are going to see the point of view of the banks themselves. as one of the constraints on the ability of banks to extend credit and support the economy is relaxed. i think everything is equal. that should support the economy and the growth outlook going into 2013 and 2014. having said that, we don't see this as being the biggest issue and certainly in continental europe and perhaps particularly in the periphery where the growth outlook has been most negative over the last few months and quarters, it probably hasn't been the biggest constraint. so we don't really see it as a game changer either in credit creation or in growth or the prospects. >> it's been suggested we should ripped up basel and start again. do you have any comments on that? >> andy's conversation is one that resinates with those of us who work in the fina
CNBC
Jan 10, 2013 4:00am EST
in mainland china. they could have hundreds. why if they don't underdevelop that? >> i think under steve jobs, apple was a very angelo sent rick company. they really focused on first getting all their product into the united states and into the other english-speaking countries. apple has been very slow at localizing itunes and other languages like chinese or korean because they've just focused so much on the united states. but i think it's clear under tim cook that apple has to expand its horizons and can't look at china and other nations as secondary nations because they're going to emerge from the secondary markets. people still love the product. you'll see that chinese woman was in new hampshire a couple weeks ago and was tasered because she was trying to bring so many iphones back to china to sell or give to friends. they can't get product into the country fast enough. >> they need to deal with china mobile. how likely is that? >> i don't think it's that likely. probably 5%, 10% in the next five months. unlike other markets, apple is dominant. apple, they go into the united states, they c
FOX Business
Jan 7, 2013 11:00am EST
donated, where they worked and how much. steve ballmer and his wife each donated $50,000. of course, he is the ceo of microsoft. there are ten people that donated back in 2009. totaling about $250,000 in donations. this time around, all you get is a name. it is making it difficult to figure out where this money is coming from. we would encourage them, them being the administration and the committee for the inauguration, to be more forthcoming prior to the inauguration. by law, 90 days after the inauguration, they have to disclose who donated, how much money they donated and where it all came from. cheryl: that is transparency. adam shapiro, thank you very much. exactly quarter till right now. every 15 minutes stocks now. d getting a new annual high. nicole: we have been watching delta very closely. the transportation index is actually lower. take a look at delta. only a penny. it did hit a new 52 week high. today, a winner. really bucking the trend. let's take a look at the major market averages. the market is under some pressure here. the s&p 500, a loss of over a half of 1%. cheryl: t
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